There are many ways to bet or gamble on the outcome of uncertain events such as sporting events, market fluctuations or politics. Presently, betting requires that a bookmaker or broker take the bet and set odds based on perceived outcome probabilities. After the event takes place, bettors are compensated or relieved of their money.
Betting through a bookmaker has the disadvantage that bets cannot be updated. Betting by bookmaker cannot be easily reiterated. Also, a bettor cannot remove money from the bet before the event takes place. There is no mechanism for establishing the value of a bet before the event occurs.
It would be an advance in the art of betting and financial instruments to provide a highly adaptable method for placing bets on any event. It would also be an advance for the method to be reiterative so that bets could be updated at any time. Also, it would be an advance for the method to be controlled by market forces so that the betting method does not require assumptions on the likely outcome of the bet.